Politics are, first and foremost a negotiation over who gets what resources. If we want to stop the harvesting, the first step is to change the narrative. We don’t have a pension fund crisis; we have a political plan. The pension fund crisis is created by that plan. It’s time to change the plan. ~ Catherine Austin Fitts
In January 2017, we said in the 2016 Annual Wrap UP that the slow burn was coming to an end and was entering a period of accelerating “controlled demolitions” and a fundamental reordering of institutions. Indeed, that proved to be an appropriate description of 2017 and the year ahead. We have had plenty to say about pension funds in this current 2017 Annual Wrap Up, so we will not add more here, but simply point out that the news on pension funds was explosive in 2017. We expect even more in 2018.
Courts Decide
Pay Up, Fix Up or Else:
- Christie’s last N.J. Budget Will Include Full Scheduled Pension Payment
- UK Corporate Pensions Headache Could Worsen in 2017
- Global Pension Underfunding Will Grow To $400 Trillion Over Next 30 Years
- Illinois Too Broke to Fix: Chicago Police Pension Fund Broke by 2021 at the Latest
- Ohio’s Public-Employee Pensions Face Cutbacks
- Teachers Retirement System of Texas is ‘Too Big to Fail’
- General Mills to Freeze U.S. Pension Plans
- The $31 Billion Hole in GE’s Balance Sheet That Keeps Growing
- Here Are America’s Most Underfunded S&P 500 Corporate Pensions
- Houston voters OK $1 billion measure to bolster police, city workers pension funds
- All FTSE 350 DB schemes could be closed in 10 years
- California’s Brown Raises Prospect of Pension Cuts in Downturn 2018
- UK: State pension will run out without NIC increase, Govt actuary warns
- The Funded Status of Local Pensions Inches Closer to States
Twisted by Op’s:
- Divestment Report: Climate Politics Hurts Pension Fund Returns
- Robbing the Cradle to Secure ‘Social Security’
- Top 10 Reasons Why Stealing From State And Local Public Pensions Is The Perfect Crime
- Trump Plans to Cut Social Security, Medicare in Second Term
- State Should Start Investing Pension Funds in a ‘Boring, Responsible’ Manner
- Tensions with Pensions 2018
- Survey Shows Majority Of Pensioners Have No Idea Their Pensions Are Underfunded
- $8 Trillion Short On Pensions?! “No One Goes To Jail Because Establishment Is Complicit”
- The System Is About to Burst Open: TRILLIONS In Unfunded Pensions “Foreshadow A Bleak Future”
- Warning: You May Be Next: 400,000 People Just Had Their Pensions Cut By 50%: “Going to Happen To The Rest Of Pensions in the United States”
- Forget The Phony Pension Accounting, Here’s How Much Your State Pension Is Really Underfunded
Multiple Bad Decisions Don’t Fix Problem but Require Rescue:
- Fix for troubled Dallas Police and Fire Pension System Passes Senate
- Texas Senate Passes Bill Overhauling Houston’s Troubled Pension Systems
- Pew Trust: WV ‘Tremendous Turnaround Story’ for Pensions
- Michigan Teacher Pension Fight Pits Portability vs. Risk
- Puerto Rico Budget to Protect Pension Payments
- Massive PBGC Rate Hikes Force Corporate Debt Binge As Companies Try To Pay Down Pensions
- Illinois “Budget Deal” Is Likely The Death Knell For The State’s $130 Billion Underfunded Pensions
- 1 Million Ohio Public Employees Face Pension Cuts As Another Ponzi Teeters On The Brink
- Messed Over Retirees: Dallas Suspends Withdrawals From “Insolvent Pension System”
De-Risk (shift risk)
- The Hartford Transfers 29% of Pension Plan Obligations
- Jeremy Grantham’s 3rd Quarter Commentary – Career Risk and Stalin’s Pension Fund: Investing in a World of Overpriced Assets (With a Single Reasonably-Priced Asset) 2018
Multiple Industry Stakeholders and Taxpayers:
- Fitch: Pension Impact Adjusted in U.S. Public Finance Criteria
- Factors Aligning to Accelerate Pension Activity
- 20% of Illinois Lawmakers to Quit: They Risk Some Pension Benefits if They Get Booted Instead of Retiring
- New Jersey Has the Worst Finances in the Nation, Report Says
- Military Overhauls Retirement System in Biggest Shift Since World War II
Be the first to comment